For awhile there, the interest rate was lower than inflation
rate.....debt honestly was better than some investments.
I'm not sure where we stand on that score now and I'm too lazy to
Google.
------ Original Message ------
From: "Steve Jones" <[email protected]>
To: [email protected]
Sent: 11/17/2017 11:55:09 PM
Subject: Re: [AFMUG] BTC
The world is and always will be analog. Thats why i put all my money
into debt. Its the only stable market.
Playing a devils advocate though, i couldnt buy a pop with a gold bar
at a gas station if i wanted to either.
Mark dice showed that with silver bars vs candy bars.
Any money only has value if both parties understand and agree on its
worth.
I sold a silver dollar once for 28 dollars, because the money had lost
its worth
On Nov 17, 2017 10:43 PM, "Simon Westlake" <[email protected]>
wrote:
When the power is out, no money is money
On 11/17/2017 10:42 PM, Steve Jones wrote:
Til the power is out
On Nov 17, 2017 10:34 PM, "Simon Westlake" <[email protected]>
<mailto:[email protected]> wrote:
All money is money
On 11/17/2017 10:33 PM, Steve Jones wrote:
As a bubble risk investment its insane good, look at wikileaks,
they had no choice and have bank.
Its just not money
On Nov 17, 2017 10:22 PM, "Simon Westlake" <[email protected]>
<mailto:[email protected]> wrote:
It reminds me every time it goes up another $1k that I was really
stupid to not mine it when it was worth 1c. I've been saying since
it was worth $10 that it's gonna crash. A couple of weeks ago I
said it was crazy it's at 5k, it's at 7.5k now.
On 11/17/2017 10:20 PM, Steve Jones wrote:
Crypto currency reminds me of those guys who are always talking
about the superiority of linux and how linux is gonna dominate.
Fanboydom may have many accurate examples, probably is superior,
but wont dominate
On Nov 17, 2017 8:51 PM, "Simon Westlake" <[email protected]>
<mailto:[email protected]> wrote:
Good question, I'll have to ask my friends at Infowars.
On 11/17/2017 8:50 PM, Bill Prince wrote:
Wonder about yuan (Renminbi)?
bp
<part15sbs{at}gmail{dot}com>
On 11/17/2017 6:47 PM, Simon Westlake wrote:
I doubt krona, rubles, or francs were either.
On 11/17/2017 6:07 PM, Steve Jones wrote:
Out of curiousity, down in puerto rico, was that
cryptocurrency buying any gas, water ot food?
On Nov 17, 2017 4:48 PM, "Sean Heskett" <[email protected]>
wrote:
Hey Travis and gang,
Here's a really good audiobook that does a deep dive into
all things cryptocurrency. It was written by a couple of
Wall Street Journalist. The link below is to audible.com.
It answers a lot of the questions you are asking.
********************************************************************
Hi,
I've listened to this audiobook, "The Age of Cryptocurrency:
How Bitcoin and Digital Money Are Challenging the Global
Economic Order" by Paul Vigna, Michael J. Casey, and thought
you would enjoy it, too.
It's totally free and you won't need a credit card if it is
your first time accepting an Audible book from a friend.
Get it here <http://a.co/69VdGfJ>
---------
After you accept the book, you will be prompted to download
the Audible app to start listening.
Enjoy!
-Sean
On Fri, Nov 17, 2017 at 1:43 PM, Travis Johnson
<[email protected]> wrote:
Hi,
I agree with most of what you said here... however, the
original premise for BTC was that everyone was tired of the
"banks" controlling the money... and charging fees to do
so. I just really don't see how that has changed much... I
currently have 4 or 5 bank accounts, all at different
banks... and I control all of them from my computer. I can
send/receive/wire/transfer money in and out of any of them
at my own will.
Also, how is sending BTC from wallet to wallet not free? I
have sent BTC to other people without being charged a
fee... I was doing it from my own wallet on a computer, not
using a service.
For me it just doesn't make sense... I can have a totally
free bank account with an ATM/VISA card that I can use
anywhere and not have to worry about getting hit with fees
or the value of my "money" changing every 5 seconds... and
it's insured and if there is an issue (fraud, etc) the bank
covers it. I get none of those features with BTC, and I
have to pay a much higher "fee" to use it.
The current state of BTC is not how it was envisioned when
it was first created. It has become commercialized and
everyone is after their 1.5% fee. :(
Travis
On 11/17/2017 12:28 PM, Chris Wright wrote:
Many of the negative things you say here about BTC are
questions I had when I was still learning. Let me clear
some things up.
Coinbase charges for when you want to buy BTC with fiat
(USD). They have a business to run. Everyone here knows
that processing debit/ACH payments is NOT free. Onboarding
your US dollars to crypto currency will require a gateway,
and every gate requires a gatekeeper, and every gatekeeper
has mouths to feed.
Sending BTC from wallet to wallet is not free. Current
transaction fees on Bitcoin are ~$10 USD at the time I'm
writing this. Other crypto currencies like Ethereum are
more robust in this area (~$0.30 currently). Every
transaction needs to be written to the blockchain, which
requires mining time, electricity, and processing.
Bitcoin and other cryptocurrencies are doing what the
banks have been doing for years... it's an electronic
ledger. What's a bank statement worth? It's only a piece
of printed paper or numbers on a screen that show how much
currency to which one is entitled. It has no value in and
of itself. A US dollar bill is simply paper; its value is
whatever we all agree it is. The *big* thing
cryptocurrencies bring to the table is that your "bank
account" is no longer controlled by one central building.
Your account, or "digital wallet" is controlled by
thousands of computers, each checking themselves against
the other.
The only way someone can hijack the blockchain would be if
they controlled more than 50% of the compute power in the
mining world. Think about how many vectors of attack from
which our traditional banks are vulnerable.
This video answered even more questions I didn't even
think to ask... I highly recommend giving it your time.
https://www.youtube.com/watch?v=bBC-nXj3Ng4
<https://www.youtube.com/watch?v=bBC-nXj3Ng4>
Chris Wright
Network Administrator
-----Original Message-----
From: Af [mailto:[email protected]] On Behalf Of Travis
Johnson
Sent: Thursday, November 16, 2017 1:42 PM
To: [email protected]
Subject: [AFMUG] BTC
Hi,
The entire idea and goal of bitcoin was to take away the
financial institutions from having "control" and charging
fees to handle money. In exchange for no fees (sending or
receiving BTC is free), you also have no security. Once
it's sent, it's gone.
However, now the banks have just been replaced with places
like Coinbase... bitcoin "exchanges" that charge roughly
1.5% for every buy/sell transaction... and they take 7-10
business days to convert btc to cash or visa versa.
I don't see how this is a long term thing? Once all the
"mining" is being done by huge datacenters (for another
3-4 years is all), then I don't see it becoming the new
money standard like everyone thinks. You will still have
to pay fees, and someone else is still in control of your
money. :(
Travis
--
Simon Westlake
Email: [email protected]
Phone: (702) 447-1247 <tel:%28702%29%20447-1247> US / (780) 900-1180
<tel:%28780%29%20900-1180> CA
---------------------------
Sonar Software Inc
The future of ISP billing and OSS
https://sonar.software
--
Simon Westlake
Email: [email protected]
Phone: (702) 447-1247 <tel:%28702%29%20447-1247> US / (780) 900-1180
<tel:%28780%29%20900-1180> CA
---------------------------
Sonar Software Inc
The future of ISP billing and OSS
https://sonar.software
--
Simon Westlake
Email: [email protected]
Phone: (702) 447-1247 <tel:%28702%29%20447-1247> US / (780) 900-1180
<tel:%28780%29%20900-1180> CA
---------------------------
Sonar Software Inc
The future of ISP billing and OSS
https://sonar.software
--
Simon Westlake
Email: [email protected]
Phone: (702) 447-1247 <tel:%28702%29%20447-1247> US / (780) 900-1180
<tel:%28780%29%20900-1180> CA
---------------------------
Sonar Software Inc
The future of ISP billing and OSS
https://sonar.software
--
Simon Westlake
Email: [email protected]
Phone: (702) 447-1247 <tel:(702)%20447-1247> US / (780) 900-1180
<tel:(780)%20900-1180> CA
---------------------------
Sonar Software Inc
The future of ISP billing and OSS
https://sonar.software
